Across the UK, to date, the LISA has helped almost a quarter of a million people get the keys to their first homes, and the latest HMRC data shows that 1.3 million people are currently saving or investing through one. Yet we believe these stats, while positive, are only scratching the surface of the LISA’s potential, and many more young people could benefit from it in the years ahead. While the backing of the Lifetime ISA is a promising step, there’s a strong case to be made for further improvements to help even more people achieve their goals. The current rules, while well-intentioned to keep the Lifetime ISA focused as a long-term savings product, create barriers that could and should be addressed.
